FTC Designates Coupang Chairman As Controlling Person

South Korea's Fair Trade Commission has designated Coupang Chairman Kim Beom-suk as the controlling person of the business group. The decision follows findings that he exercised practical management authority over major business operations. As a result, Kim and his relatives within the third and fourth degree of kinship must disclose their stock holdings and transaction history. The measure aims to address issues regarding private interests and executive treatment levels. Chairman Kim Bom-suk as a controlling person. Under this designation, Kim and his relatives up to the fourth degree of consanguinity and third degree of affinity must disclose stock holdings and transaction details. Coupang Inc. issued a statement claiming the company maintains a transparent structure and denied concerns regarding private interest misappropriation. The company further stated that as a US-listed entity, it is already strictly monitored by the US Securities and Exchange Commission and will pursue administrative litigation against the FTC's decision, calling it double regulation. The announcement follows a period of competition involving MBC announcers regarding candidate selections. and Coupang Korea maintain transparent management structures and deny concerns regarding the pursuit of private interests. US political figures and the administration have expressed concerns regarding potential discrimination against US companies in the personal information leak investigation.